Research on the impact of the silver economy and new productivity on consumption upgrading

As population aging intensifies, the silver economy has emerged as a core driver of consumption upgrading in China. It is an important pathway for promoting the upgrading of the consumption structure and achieving high-quality economic development. This research adopts a dynamic structural equation model, drawing on panel data from 31 provincial-level administrative regions spanning 2010 to 2023, to analyze how the silver economy and new-quality productive forces affect consumption upgrading and the underlying mechanisms. The findings reveal that the silver economy significantly promotes technological innovation and the transformation of the consumption structure, thereby driving sustainable consumption development. Technological innovation assumes a critical mediating function between the silver economy and new-quality productivity. Economic growth acts as a vital moderating factor in the relationship between technological innovation and consumption upgrading. This model reveals the industrial transformation path in the background of an aging population and provides a theoretical decision-making framework for formulating differentiated regional consumption policies.